Ethereum

Arbitrum

Base

Resistance

Billion

<ul>
 <li>According to L2Beat’s statistics as of June 10th, its TVL is $8.05 billion.</li>
 <li>Moreover, Base has made the greatest on-chain earnings in the last three months.</li>
</ul>
Just days after surpassing Optimism’s OP Mainnet, the total value locked (TVL) on <a href="https://thenewscrypto.com/should-ethereum-traders-be-prepared-for-an-imminent-breakout/" target="_blank" rel="noopener noreferrer nofollow">Ethereum’s</a> layer-2 network Base topped $8 billion.
According to L2Beat’s statistics as of June 10th, its TVL is $8.05 billion. This includes $5.92 billion in natively minted assets and $2.14 billion in canonically bridged value, which are assets that are locked on Ethereum but represented on Base.
<h3 class="wp-block-heading" id="h-substantial-overall-gains">Substantial Overall Gains</h3>
After passing OP Mainnet as the biggest chain in the Superchain ecosystem last week, the <a href="http://coinbase.com" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a>-supported chain is now the second-largest Ethereum scaler in TVL, behind Arbitrum One’s $18.27 billion.
About seven months after its inception in August 2023, <a href="https://base.org/" target="_blank" rel="noopener noreferrer nofollow">Base</a> reached the $1 billion TVL threshold on February 27. However, since then, it has increased at a rate of knots, particularly over the last 104 days. Additionally, according to <a href="https://l2beat.com/" target="_blank" rel="noopener noreferrer nofollow">L2Beat</a>, it has the highest number of transactions per second among all Ethereum layer 2s at 30.36, surpassing Arbitrum One’s 23.52. In the last 30 days, Base has handled 64.86 million transactions.
A Dune Analytics dashboard created by “niftytable” shows that Base has made the greatest on-chain earnings in the last three months, with a record-breaking $16.9 million for the chain in March. Although OP Mainnet reported $1.57 million in on-chain revenue last month, Base’s on-chain profits dropped 58.6 percent to $6.98 million, putting it ahead of the next most lucrative Ethereum layer 2.
The recent memecoin frenzy in early 2024 was a major contributor to these gains. Unfortunately, criminals were drawn to Base because of its popularity with memecoins. During January to March, the network had an 18-fold surge in funds stolen via phishing schemes.
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Coinbase-backed Ethereum Layer-2 Network Base’s TVL Hits $8 Billion

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